The Central Bank of Egypt (CBE) announced on April 7 suspending blacklists (I-Score) for 8,000 enterprises and negative lists for 100,000 individuals, Invest-Gate reports.

The CBE’s decree aims to alleviate the burdens on clients during the coronavirus (COVID-19), and comes as part of a number of measures taken to mitigate the economic fallout from the COVID-19 outbreak.

The decision also put on hold the debarments imposed on irregular clients who do not pay their credits in the due times, while lifting all restrictions on their dealings with the banking system.

The bank also reduced the disclosure periods for these clients to between six and 12 months compared to the previous period of up to 10 years. This will benefit more than 4,000 enterprises and 220,000 individuals.